Ferrari on Monday confirmed reports Stefano Domenicali has “decided to resign” as team boss.

Stefano_Domenicali-FerrariIn a statement, president Luca di Montezemolo thanked the 48-year-old not only for his long “contribution and commitment”, but for the “great responsibility” displayed by stepping down amid Ferrari’s early-season crisis. Domenicali confirmed that Domenicali’s successor is Marco Mattiacci, “a manager who knows the value of the company. He has enthusiastically accepted this challenge.”

Domenicali, who said on Monday he had the “courage to take difficult and very agonising decisions”, joined Ferrari in 1991. “It is time for a significant change,” he explained. “As the boss, I take responsibility, as I have always done, for our current situation. “I hope that very soon, Ferrari will be back where it deserves to be.”